Wouldn’t it be nice to have a holiday free of financial worry? Wouldn’t it be nice to open up your bank account in early December and see a cool thirteen hundred dollars in there? Saving money continues to be one of the hardest things to do despite our best intentions. But that’s about to change…ladies and gents let me introduce you to the 52 Week Money Challenge, it’s one of my favorite (and easiest!) ways to save money throughout the year.
The 52 Week Money Challenge works by stashing a little bit of money each week throughout the year. You can stash the money away in a sock drawer, a jar or in your own bank account..it doesn’t matter where you save the money, as long as you are saving. If you follow the 52 Week Money Challenge, you will save a total of $1378.00 which is a nice chunk of change to have at the end of the year.
Here’s how the 52 Week Money Challenge works:
During the first week of the challenge, you put away $1.00, the second week, you save $2.00, the third week you save $3.00..and so on. You see the pattern there? If you follow that pattern throughout the year, you’ll have over $1300 dollars saved up by December 31st.
There is an alternative way you can do the 52 Week Money Challenge depending on your financial situation. Some may find it harder to put away more money towards the end of the year and would prefer to balance it out. What you can do instead, is use the guide to randomly select an amount based on your cash flow for that particular week. In this case, you can cross out each amount off the guide as you save it. For example, if you save $50 the first week, and $16 the next week, you would cross out each of those amounts and continue to save until all of the amounts were crossed off the list. This method would still result in the $1300 savings, however, the weekly savings are dictated by what you can afford that week.
Now that you’ve found a new way to save $1300, we want to hear from you. Do you have any other ways that you like to save money? Hit us up on our Facebook page with your money saving strategies.